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Friday, March 11, 2016

Analysts Wonder About Weather Rally | Agweb.com

Analysts Wonder About Weather Rally | Agweb.com: With December corn futures priced at $3.80, farmers are keeping their fingers crossed for a spring rally and its promise of profitable grain sales.

It certainly could happen, according to analysts on U.S. Farm Report.

“Just thought of a weather scare could give us a nice little rally,” said Ted Seifried of Zaner Ag Hedge. “You look at the funds at record-short positions carrying a very big, big percentage of the open interest. And you look at end users … which are going a little bit more hand-to-mouth and not booking out that longer term-coverage. You’ve got two big market players that, if you give them a bit of a scare (such as) a concerning weather forecast as we get in to the growing season, could be competing for bids. �That could give us a nice little pop.”

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Grain markets are higher on follow through short covering off technical support levels. Macro markets are taking a breather, trading within the large range sessions from Thursday.

Today is the FINAL DAY to participate in Allendale's�Annual Acreage Survey. The results will be released on March 16th. Click here to enter your data. Thank you for your help and participation!

The ECB at its meeting yesterday, announced much more intensive easing measures than the market expected. EUR/USD initially fell sharply on the announcement but then rallied back up when ECB President Draghi said that the ECB at present does not anticipate cutting rates further.